How to Calculate Markup Price for Selling a Product
Calculating Markup Price for Selling a Product
Markup price is the additional amount added to the cost price of a product to determine its selling price. To calculate the selling price after marking up the cost price by a certain percentage, follow these steps:
- Determine the cost price: This is the original price at which the product was purchased or manufactured.
- Calculate the markup amount: Multiply the cost price by the markup percentage. This will give you the additional amount to be added to the cost price.
- Add the markup amount to the cost price: This will give you the selling price of the product after the markup.